Why I would never buy XRP

[leopard2]

1. XRP is not a cryptocurrency, it is a token issued by a private company on a private blockchain. No POS, no POW, just a private blockchain.

2. This means it was created from thin air, then sold to noobs around the world. 100% premined, mining difficulty = 0

3. even USDT is better: it is covered by real fiat, and mining is indirect (Omni blockchain) but it is also centralized. And because of that, Tether has already frozen USDT assets. Exactly like Ripple, Tether is the only fiat gateway to USDT.

4. Ripple has frozen assets twice and they will do it again.

Freeze 1: The original Ripple Trade web wallet was pushed to gatehub. They now hold funds hostage by asking for KYC. Using terrorist bullshit excuses.

https://gatehub.net/legal/terms

Similar scenario can happen anytime!!! Imagine North Korea or ISIS using Ripple to transfer money!! They will (be forced by US Govt.) freeze funds ASAP and require KYC from everyone or worse. This would result in an epic dump. Not because most people are criminals but because it will be EVIDENCE that they contol the funds.

Freeze 2: http://insidebitcoins.com/news/not-so-decentralized-ripple-freezes-1m-in-user-funds/31862

In order to “avoid and mitigate irreparable harm and damages” to the value of XRP, a Ripple Labs agent went on the Bitstamp gateway and placed an order paying $1,038,172 for McCaleb’s stash of XRP, according to a report by CoinDesk.

They even admit they can freeze assets anytime:

https://ripple.com/build/freeze/

The XRP Ledger gives addresses the ability to freeze non-XRP balances, which can be useful to meet regulatory requirements, or while investigating suspicious activity.

---------->>>>> don't you think XRP would drop like a rock, if a major "non-XRP" freeze is ever published?! How delusional can shills be?

5. Ripple network works fine without XRP. Ripple fanboys, so delusional, cannot understand this? OK. Imagine for a moment, XRP was needed. But XRP is expensive. And XRP is private blockchain. Why should Ripple be super stupid to use expensive XRP? They can create another private blockchain with another 100 000 000 000 tokens (I will call it Shittle STL) and just use STL for operations.

No public blockchain can do that, but Ripple can do it, from one day to the next.

Then you own useless XRP - but they are not a share. No voting rights, no ownership in Ripple Labs, nothing. STL will be private, used by banks, and Ripple, and you can do fuck all about it.


Good luck, you have been warned.

[Thinvestor]

I will never touch ripple either. Raiblocks is the new kid in town and is a ripple killer if there ever was one. Fully open source and decentralized, faster than ripple and completely free, 36 times smaller marketcap too.

[aznboy84]

I will never touch ripple either. Raiblocks is the new kid in town and is a ripple killer if there ever was one. Fully open source and decentralized, faster than ripple and completely free, 36 times smaller marketcap too.

And you do not need to forget that ripple is fully controlled by banks, that is why they want to have as much marketcap as they can, because they are centralizing everything.

[leopard2]

I will never touch ripple either. Raiblocks is the new kid in town and is a ripple killer if there ever was one. Fully open source and decentralized, faster than ripple and completely free, 36 times smaller marketcap too.

And you do not need to forget that ripple is fully controlled by banks, that is why they want to have as much marketcap as they can, because they are centralizing everything.

Excellent point!!

How to get marketcap for dummies:

1. Create coin with many units. As many as you can. 100 000 000 000 is good.
2. Sell a few to retards.
3. Now claim "you locked a part of the 100 000 000 000". Doesn't matter, you stil have many many many many units left
4. More retards jump on train because they think "ow wow only 40 000 000 000 units available instead of 60 000 000 000"
5. Now your marketcap is really big. You be on coinmarketcap first page
6. More retards see you moving up on coinmarketcap and buy your crap
7. BINGO!!! You made it to the top

Orderbooks are for maybe 10 000 000 on all exchanges worldwide, but your marketcap is 50 000 000 000.

Same principle is used by IOTA. And DOGE. But DOGE price is realistic, IOTA and XRP is insane.

[redhack]

Some people in mainstream say Bitcoin is tulip mania but the real modern day tulip mania is Ripple. It's maybe the worst ponzi scheme in history, yet people don't realize that for short term gains. I wouldn't put a single penny even if I know it would go another 100x. That's against my belief in decentralized crypto.

[marketcoin2]

You have a point but look at from an investment point; It has small fluctuations (more stable), and steady growth! So it will attract many investors!

[marketcoin2]

I will never touch ripple either. Raiblocks is the new kid in town and is a ripple killer if there ever was one. Fully open source and decentralized, faster than ripple and completely free, 36 times smaller marketcap too.

And you do not need to forget that ripple is fully controlled by banks, that is why they want to have as much marketcap as they can, because they are centralizing everything.

Excellent point!!

How to get marketcap for dummies:

1. Create coin with many units. As many as you can. 100 000 000 000 is good.
2. Sell a few to retards.
3. Now claim "you locked a part of the 100 000 000 000". Doesn't matter, you stil have many many many many units left
4. More retards jump on train because they think "ow wow only 40 000 000 000 units available instead of 60 000 000 000"
5. Now your marketcap is really big. You be on coinmarketcap first page
6. More retards see you moving up on coinmarketcap and buy your crap
7. BINGO!!! You made it to the top

Orderbooks are for maybe 10 000 000 on all exchanges worldwide, but your marketcap is 50 000 000 000.

Same principle is used by IOTA. And DOGE. But DOGE price is realistic, IOTA and XRP is insane.

But isn't ripple offer a speedy transactions between the banks? The banks can save millions on using their technology and platform.

[leopard2]

But isn't ripple offer a speedy transactions between the banks? The banks can save millions on using their technology and platform.

Yes it is great for banks. But worthless to you.

Ripple is the company...banks use Ripple. XRP, the token, is not needed by banks. Even if it was needed, a copy could replace it anytime. 

Only if XRP were securities (like bearer shares) in Ripple, then they would be worth something. But they are not.

[marketcoin2]

But isn't ripple offer a speedy transactions between the banks? The banks can save millions on using their technology and platform.

Yes it is great for banks. But worthless to you.

Ripple is the company...banks use Ripple. XRP, the token, is not needed by banks. Even if it was needed, a copy could replace it anytime.  

Only if XRP were securities (like bearer shares) in Ripple, then they would be worth something. But they are not.

So it xrp acts as the stock for the ripple, right? More banks use ripple then Its token will go up?

[leopard2]

Ripple is a payment network. Maybe a good one, I cannot tell.

SWIFT is a payment network.

Paypal is one.

SEPA is one.

XRP is not needed by the network, it does not constitute ownership in Ripple. It acts as a "lubricant" but can be replaced by another lubricant if needed. XRP owners have no vote.

[marketcoin2]

Ripple is a payment network. Maybe a good one, I cannot tell.

SWIFT is a payment network.

Paypal is one.

SEPA is one.

XRP is not needed by the network, it does not constitute ownership in Ripple. It acts as a "lubricant" but can be replaced by another lubricant if needed. XRP owners have no vote.

I understand, thank you for explaining it clearly!

[xenomorphe1]

You are right, that's why i won't invest in XRP. Ripple and Banks can manipulated its value. And they also can choose who can buy or sell it. It is not a currency for the people. It is a currency to keep the Banks up to date and to attract people to it. And also it helps them keep the funds in their Banks. They don't want people to use Bitcoin or altcoins as they don't control them.

[Thinvestor]

Some people in mainstream say Bitcoin is tulip mania but the real modern day tulip mania is Ripple. It's maybe the worst ponzi scheme in history, yet people don't realize that for short term gains. I wouldn't put a single penny even if I know it would go another 100x. That's against my belief in decentralized crypto.

I feel the exact same way too brother

[PranDoW]

I agree with the words, but now it is a good way of investing in order to replenish my portfolio

[liseff3]

1. XRP is not a cryptocurrency, it is a token issued by a private company on a private blockchain. No POS, no POW, just a private blockchain.

2. This means it was created from thin air, then sold to noobs around the world. 100% premined, mining difficulty = 0

3. even USDT is better: it is covered by real fiat, and mining is indirect (Omni blockchain) but it is also centralized. And because of that, Tether has already frozen USDT assets. Exactly like Ripple, Tether is the only fiat gateway to USDT.

4. Ripple has frozen assets twice and they will do it again.

Freeze 1: The original Ripple Trade web wallet was pushed to gatehub. They now hold funds hostage by asking for KYC. Using terrorist bullshit excuses.

https://gatehub.net/legal/terms

Similar scenario can happen anytime!!! Imagine North Korea or ISIS using Ripple to transfer money!! They will (be forced by US Govt.) freeze funds ASAP and require KYC from everyone or worse. This would result in an epic dump. Not because most people are criminals but because it will be EVIDENCE that they contol the funds.

Freeze 2: http://insidebitcoins.com/news/not-so-decentralized-ripple-freezes-1m-in-user-funds/31862

In order to “avoid and mitigate irreparable harm and damages” to the value of XRP, a Ripple Labs agent went on the Bitstamp gateway and placed an order paying $1,038,172 for McCaleb’s stash of XRP, according to a report by CoinDesk.

They even admit they can freeze assets anytime:

https://ripple.com/build/freeze/

The XRP Ledger gives addresses the ability to freeze non-XRP balances, which can be useful to meet regulatory requirements, or while investigating suspicious activity.

---------->>>>> don't you think XRP would drop like a rock, if a major "non-XRP" freeze is ever published?! How delusional can shills be?

5. Ripple network works fine without XRP. Ripple fanboys, so delusional, cannot understand this? OK. Imagine for a moment, XRP was needed. But XRP is expensive. And XRP is private blockchain. Why should Ripple be super stupid to use expensive XRP? They can create another private blockchain with another 100 000 000 000 tokens (I will call it Shittle STL) and just use STL for operations.

No public blockchain can do that, but Ripple can do it, from one day to the next.

Then you own useless XRP - but they are not a share. No voting rights, no ownership in Ripple Labs, nothing. STL will be private, used by banks, and Ripple, and you can do fuck all about it.


Good luck, you have been warned.

This is great and is very useful to me and maybe others too.
I was just stunned when I found out about the about it.
I feel confident, they are vulnerable to fraud,
Armed with this information we must be vigilant, don't let Ripple steal we money.

[gmf1000]

You are right, that's why i won't invest in XRP. Ripple and Banks can manipulated its value. And they also can choose who can buy or sell it. It is not a currency for the people. It is a currency to keep the Banks up to date and to attract people to it. And also it helps them keep the funds in their Banks. They don't want people to use Bitcoin or altcoins as they don't control them.

I do agree with you, I'll never buy RIPPLE,, this coin is just a toy for someone manipulating us for their own wealth ~

[cheezcarls]

I did buy a few Ripple, and I don't mind about it. Even if they freeze Ripple anytime soon, I don't regret buying a few. The growth is slow but steady.

If they manipulate us for their gain, I would treat XRP like I'm donating for a good cause. I'm still grateful for owning a few Ripples though, even if I lost them in the dust I don't really care.

Cryptocurrencies are unpredictable, especially Ripple.

[Cicada1033]

Sad to see that it's December 2017 and people still need to be enlightened about Ripple but I thank you for doing it.

I felt like Ripple was on a "good way" loosing market cap every day so I thought it would finaly vanish. But the storm on Cryptocurrencies at the beginning of Dec brought a lot of newbie investors for Ripple again. 

[MarchToke]

Thanks Pal for this significant information to us, this would be a great help to me and a big warning in investing in the XRP.

[Biggen1]

Who the frack cares what or who Ripple is or if it doesn't act like a mainstream crypto. I bought a shed load of it at .20 and now its taking off. I'm buying all I can.

Sure, cut off your nose to spite your face. Good plan...